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AIB says on track for pre-provision operating profit

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ALLIED IRISH Banks said today it’s on track to deliver a pre-provision operating profit for 2013.

The bank added that €19.6bn of core deleveraging will be completed by the end of the first quarter and 95pc by the end of the year.

It also says it expects to have achieved the non-core deleveraging target by the third quarter at levels comfortably within the 2011 capital assumptions

AIB added that bad debt provisions for 2013 are expected to trend significantly lower from levels in 2012.

The group's core tier one capital ratio was 15 at end March 2013.

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